Thai Siam Commercial Bank to cut key lending rates by 10 to 30 bps

May 20, 2015 10:23 AM

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BANGKOK May 20 Thailand's third largest lender by assets, Siam Commercial Bank PCL, said it would cut key lending rates by 10 to 30 basis points (bps) on Thursday, after a policy rate cut by the Bank of Thailand in April, aimed at stimulating the economy.

The bank's minimum lending rate (MLR) will be cut 10 bps to 6.525 percent and the minimum retail rate (MRR) will be cut by 30 bps to 7.82 percent, Chief Executive Arthid Nanthawithaya told reporters.

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